| Date: |
03-12-2010 |
| Subject: |
India’s Ban on Cotton Exports to Affect Recovery of Global Textile Sector |
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President of the Textile Committee of the National Society of Industries (SNI), Peru – Enrique Falcone, revealed that some associations in the textile sector across the globe are urging their respective governments to convince the Indian Government to lift its ban on raw cotton exports, which has led to the escalation of cotton prices by 130 percent in the global market since April, 2010.
According to him, the prohibition on the export of raw cotton could adversely impact the revival of the textile sector in these countries. He emphasized that the fibre cotton used by the Peruvian textile sector is not being imported directly from India, but the ban on cotton exports of India have increased the prices of raw cotton, yarn and other textile products in the global market, which can have its impact on the textile sector of the country. He further commented that the situation is grave as the sector is trying its level best to recover from the worldwide recession and reach the previous levels.
Source : fibre2fashion.com
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